• what if the client becomes the target of a federal investigation, and the association between the client and the firm becomes public?
  • Marijuana Business Clients: ‘Smokin’ Hot’ Issues for CPAs

    The marijuana industry is a prime example of a “current, emerging and future” risk area, given the number of perplexing difficulties CPAs face when trying to assess the special considerations pertaining to marijuana business clients and to the CPA firms that service such clients. At the heart of the difficulties is the split between federal law, under which marijuana is basically illegal, and the laws in states where voters or legislators have approved measures to allow the use of marijuana for medical and/or recreational purposes.

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    Latest Articles

    • 05 Feb

      Five reasons why CPAs believe they will never be sued

      CPAs generally take every precaution feasible to ensure error-free work, but that may not be enough to ensure a firm's security. In our litigious society, it's wise to be prepared for that unexpected bump in the road. To help put this in perspective, here are five common reasons why CPAs d... read more

    • 11 Jan

      January Tip - Documentation Tips for Tax Season

      Jurors (who are members of the public) generally consider CPAs to be experts in documentation, and falling short of that expectation when faced with a liability lawsuit may be viewed by the public as negligent and below the standard of care for the services rendered.

      The fol... read more

    • 17 Dec

      War Story 113

      #113: Difficult Client; Tax Planning and Return Preparation Services — A client with high turnover and disorganization in its accounting and financial staff is not only frustrating, but also a liability exposure if documentation is not thorough.

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